New Zealand’s unemployment rate has plummeted to 3.2%, according to Statistics NZ:
The unemployment rate remained low in the last quarter of 2021, down to 3.2 percent, from 3.3 percent (revised) the previous quarter, while the underutilisation rate did not change at 9.2 percent.
“The labour market continued to show the tightness we saw in the September 2021 quarter, with both unemployment and underutilisation rates remaining low,” work and wellbeing statistics senior manager Becky Collett said.
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
